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Do you have what it takes to successfully start a business, and grow it into a large and profitable company? Many of us have dreamed of setting up our own business, of becoming our own boss, and earning our own way in the world.
Yet for every successful entrepreneur there are far more failures. Take our two-minute biz quiz to discover our estimate of your chances.

Disclaimer: This quiz doesn't predict how well any individual would be able to launch or run a business in the real world. It is based on business theory and is not a substitute for professional guidance.

How was this quiz made? The subject of entrepreneurship has a long history, but in terms of our knowledge of the characteristics of successful entrepreneurs it is still an emerging area of research. To develop this quiz we have thoroughly studied the existing literature, and worked with Brian Morgan, professor of entrepreneurship at Cardiff Metropolitan University, to focus on the psychological characteristics and managerial competences of actual entrepreneurs.

More information on setting up your own business is available from GOV.UK

By Gerry Fletcher, Robert McKenzie, Ransome Mpini, Will Smale, Nzar Tofiq and John Walton.

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Quick quiz: Would you make a good entrepreneur?

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Do you have what it takes to successfully start a business, and grow it into a large and profitable company? Many of us have dreamed of setting up our own business, of becoming our own boss, and earning our own way in the world. Yet for every successful entrepreneur there are far more failures.

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Activity 2: Why didn't they sell the apartment?

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Activity 2: Why didn't they sell the apartment?

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On BBC's The Apprentice, these entrepreneurs needed to sell luxury apartments, but didn't manage to sell any! Watch the short video to see if you can figure out why.

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Candidate Delivers Most AWKWARD Sales Pitch EVER On The Apprentice UK | The Apprentice

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Can you believe a business the size of Aldi is still family owned! This program covers so many key business concepts.

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Inside Aldi: Britain's Biggest Budget Supermarket - Channel 5

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Exploring how the German supermarket has swept the UK.

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This video gives you an overview of the finance available for businesses

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Sources of Business Finance Explained | Bank Loans, Trade Credit, Share Capital, Overdrafts & More

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This entrepreneur became famous for the wrong reasons, apparently turned down £90 million for his business, and has now had to sell his house and car.

Where did he go wrong when trying to get the Dragons to invest?

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The Dragons Clash With a Tempered 'Control Freak' | Dragon's Den

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Dill Restaurant - The Secret...

Here's a quick video to show the 'trick' Lidl played when opening Dill restaurant.

It is explained in the Lidl Surprises case study.

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Here's the new rules for a day out, but why are they different for going shopping? How are businesses going to benefit from being open again? Lastly, are there any businesses who have seen a rise in sales because of lockdown?

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Theme parks, museums and leisure centres are working out how they could re-open safely, as lockdown restrictions ease in the UK.

Even riding on a roller coaster is going to require a facemask and social distancing when attractions open up again. Blackpool's Pleasure Beach has decided that, on a ride on which people scream, visitors will be more comfortable if they are made to mask up.

It is also going to be a less sociable experience - the seats on its Icon ride are only a metre apart so there will be empty rows to allow social distancing.

After the opening of shops, Britain's leisure and cultural attractions are preparing for a government announcement that they too will be allowed to re-open.

However, it will be months before many venues will be in a position to allow the public in again. A report from the Creative Industries Federation says 400,000 jobs are at risk and the cultural and creative economy is losing more than £1bn a week in revenue.

It's this dire situation that is driving planning to ensure institutions will be able to re-open quickly once the government gives the green light.

Museums will be some of the first spaces to re-open their doors but it will be a different experience.

The Design Museum in London is removing its ticket desks and is moving to an online ticketing system to avoid the need for physical tickets and queues. There will also be a strict 90-minute time limit to reduce crowding and everyone will be directed along a one-way route.

Toilets will be one in, one out.

It will be a similar experience at hundreds of other venues. James Adebayo, a property consultant, has been advising on how to make socially distanced spaces. There are, he says, a series of measures that will become commonplace.

Venues will increasingly have designated viewing points with limits on how long you can linger. And there will in many places be strict one-way systems to stop dawdling and bumping in to fellow visitors.

Every one of them will do things slightly differently but here is a list of things you could well experience on a day out.

1. Ticket only - Even free museums are looking at introducing online ticketing to ensure that crowding is eliminated. Most places will no longer allow you to just wander in.

2. Limited numbers - The number of people is going to be strictly limited to allow social distancing.

3. Viewing points - There will be controls over how and where you can stop and linger.

4. One-way - We have got used to queuing on marked out points, many museums and galleries will direct where and how you walk around.

5. Time controls - Tickets will be for set arrival times. Also, some places will have to find a way to move people through a venue, so prepare for limits to how long you will be allowed to linger.

6. Plastic - Staff will increasingly be protected behind screens.

7. Toilets - One in, one out will become common. One reason to make visits swifter will be to reassure people who don't want to touch handles, taps or flushes.

8. Food - Cafes and kiosks will be limited. Bringing your own lunch or booking your food via a phone app will become more common.

9. Late night opening - With venues having to limit numbers the only way of meeting demand and breaking even will mean that many have to extend opening hours.

Of course, this will only affect venues and attractions which can control the public. Some, such as live music venues, which rely on crowds standing together face a much longer wait and a huge hole in their revenue.

Follow us on Facebook or on Twitter @BBCNewsEnts. If you have a story suggestion email entertainment.news@bbc.co.uk

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Coronavirus: The new rules for the 'day out'

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Theme parks, museums and leisure centres are working out how they could re-open safely, as lockdown restrictions ease in the UK. Even riding on a roller coaster is going to require a facemask and social distancing when attractions open up again.

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How has the Coronavirus impacted the UK economy? Have a look at the graphs and charts and think about how that affects UK businesses.

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The coronavirus pandemic has reached almost every country in the world.

Its spread has left national economies and businesses counting the costs, as governments struggle with new lockdown measures to tackle the spread of the virus.

Despite the development of new vaccines, many are still wondering what recovery could look like.

Here is a selection of charts and maps to help you understand the economic impact of the virus so far.

Big shifts in stock markets, where shares in companies are bought and sold, can affect the value of pensions or individual savings accounts (Isas).

The FTSE, Dow Jones Industrial Average and the Nikkei all saw huge falls as the number of Covid-19 cases grew in the first months of the crisis.

The major Asian and US stock markets have recovered following the announcement of the first vaccine in November, but the FTSE is still in negative territory.

The FTSE dropped 14.3% in 2020, its worst performance since 2008.

In response, central banks in many countries, including the UK, have slashed interest rates. That should, in theory, make borrowing cheaper and encourage spending to boost the economy.

Some markets recovered ground in January this year, but this is a normal tendency known as the "January effect".

Analysts are worried that the possibility of further lockdowns and delays in vaccination programmes might trigger more market volatility this year.

Many people have lost their jobs or seen their incomes cut.

Unemployment rates have increased across major economies.

In the United States, the proportion of people out of work hit a yearly total of 8.9%, according to the International Monetary Fund (IMF), signalling an end to a decade of jobs expansion.

Millions of workers have also been put on government-supported job retention schemes as parts of the economy, such as tourism and hospitality, have come to a near standstill.

The numbers of new job opportunities is still very low in many countries.

Job vacancies in Australia have returned to the same level of 2019, but they are lagging in France, Spain, the UK and several other countries.

Some experts have warned it could be years before levels of employment return to those seen before the pandemic.

If the economy is growing, that generally means more wealth and more new jobs.

It's measured by looking at the percentage change in gross domestic product, or the value of goods and services produced, typically over three months or a year.

The IMF estimates that the global economy shrunk by 4.4% in 2020. The organisation described the decline as the worst since the Great Depression of the 1930s.

The only major economy to grow in 2020 was China. It registered a growth of 2.3%.

The IMF is, however, predicting global growth of 5.2% in 2021.

That will be driven primarily by countries such as India and China, forecast to grow by 8.8% and 8.2% respectively.

Recovery in big, services-reliant, economies that have been hit hard by the outbreak, such as the UK or Italy, is expected to be slow.

The travel industry has been badly damaged, with airlines cutting flights and customers cancelling business trips and holidays.

New variants of the virus - discovered only in recent months - have forced many countries to introduce tighter travel restrictions.

Data from the flight tracking service Flight Radar 24 shows that the number of flights globally took a huge hit in 2020 and it is still a long way from recovery.

The hospitality sector has been hit hard, with millions of jobs and many companies bankrupt.

Data from Transparent - an industry-leading intelligence company that covers over 35 million hotel and rental listings worldwide - has registered a fall in reservations in all the top travel destinations.

Billions of dollars have been lost in 2020 and although the forecast for 2021 is better, many analysts believe that international travel and tourism won't return to the normal pre-pandemic levels until around 2025.

Shopping... at home

Retail footfall has seen unprecedented falls as shoppers stayed at home.

New variants and surges in cases have made problems worse.

Pedestrian numbers have fallen further from the first lockdown, according to research firm ShopperTrak,

Separate research suggests that consumers are still feeling anxious about their return to stores. Accountancy giant EY says 67% customers are now not willing to travel more than 5 kilometres for shopping.

This change in shopping behaviour has significantly boosted online retail, with a global revenue of $3.9 trillion in 2020.

Governments around the world have pledged billions of dollars for a Covid-19 vaccine and treatment options.

Shares in some pharmaceutical companies involved in vaccine development have shot up.

Moderna, Novavax and AstraZeneca have seen significant rises. But Pfizer has seen its share price fall. The partnership with BioNTech, the high cost of production and management of the vaccine, and the growing number of same-size competitors have reduced the investors' trust in the company to have bigger revenue in 2021.

A number of pharmaceutical firms have started already distributing doses and many countries have started their vaccination programmes. Many more - such as Johnson & Johnson and Sanofi/GSK - will join the vaccine distribution during 2021.

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Coronavirus: How the pandemic has changed the world economy

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The coronavirus pandemic has reached almost every country in the world. Its spread has left national economies and businesses counting the costs, as governments struggle with new lockdown measures to tackle the spread of the virus. Despite the development of new vaccines, many are still wondering what recovery could look like.

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Have a read of this article from Business Matters about the importance of research

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The advancement of technology has given us so many ways of finding out what we need to do to sustain businesses of different kinds.

Regardless of the differences that are unique to each business, one thing remains important - knowing what your customer base wants, and then work on fulfilling their needs in order to survive from the competition. With the era of monopolies now gone, it makes it very essential to on market research. That is why the major companies in the world employ the services of marketing teams and spend millions of dollars annually in recruiting research firms. Here are some reasons why you need to spend that money on research.

To have a better idea of what you are going to do

This may sound generic as ever, but the thing is - it shows you the importance of conducting research in the first place. Leading SME business specialist Richard Alvin, and chairman of specialist SME research company commented Trends Research said: 'The worst mistake you can make as an entrepreneur is shooting in the dark - you simply waste your time and resources without anything to show for it. You may make mistakes along the way even if you have sufficient information, but it is better to be prepared.' Whatever decision you make for the business, it is important to do your homework. From sourcing for suppliers, getting potential clients, and even developing the range of your products and services. It can also help in clearing up any queries that you have while still providing you with sufficient first-hand strategy that helps in progressing the business, also known as SWOT (strengths, weaknesses, opportunities and threats).

It helps you to stay focused

Let us be honest here - marketing research and marketing in general is not an easy venture to get into, especially with all the multitasking that happens today. Even as a business owner, you might find yourself trying to focus on multiple projects, playing various roles within your organization, while still running the business and trying to help it succeed. However, when you have done sufficient market research, it should inform you what your consumers want. This helps you make a list of priorities you need to accomplish, which in turn helps you in managing your time as effectively as possible. It also gives you a guide on both the long and short term strategies you need to put in place, which helps you feel more organized, less frazzled and overwhelmed in the long-term.

Gives you better insight on your customers

Regardless of whether your business has been in the game for a long time or is starting out, target customers should always be a priority, as they are either potential or loyal customers. Good market research strategies will clear doubts you may have on the identification of these customers, including their gender, ages, locations, and so on. The more analysis you do on their spending habits and products they frequently purchase, for instance, the better you can understand what makes them tick. This allows you to focus on manufacturing certain products or giving certain services in order to retain them as loyal customers.

Helps in understanding customer behavior

Aside from getting to know potentially loyal customers, you can use market research to find out some requirements of the customers. The improvement of technology has given us some useful advanced software tools such as Google Analytics, which assist you to understand the behavioral patterns of your customers. Oncetheir spending behavior is understood, you can then refine and customize various products for them. These software tools can use the data in two forms. One is tracking the spending habits of the customer when they are online, which is a real-time analysis (it particularly works if you have an online shop), and the other is to check their past spending behavior to see if there are any patterns involved.

Helps in analyzing competitors

If you have ever read the book 'The Art of War' by Sun Tzu, it states that for you defeat your enemy in battle, it is important to know yourself and know them, and they will never defeat you. This statement is true; not just in war, but also in other aspects of life - especially when it comes to running a business. Monopolies do not exist anymore in this day and age, so every business has fierce competition all around it. This should motivate you to do adequate research on the market as well as your competitors, and you may learn some strategies from them that can either push you ahead or reduce the growth of your competitors. Even more important, it will help you to keep your growth consistent through the improvement of your services and products.

Gives you adequate information for selling and forecasting activities

The most important focus of sales forecasts is helping a business keep adequate inventory, an action which regulates the balance of demand and supply. The only way to find this out is through doing research. After doing a sales forecast you can then begin to plan for alternative goods you can sell, or find new methods of selling the goods. In addition, you may have consumer bases in other countries; market research allows you to find them and tailor make strategies for those areas.

Reduces losses and risk on a significant level

The best approach to use would be a contingency approach. At the back of your mind, you remember that the business may not do well due to factors that may be beyond your control, or others may be mistakes you will learn along the way. Market research proves to be effective at reducing risks that you incur or the losses your business may suffer, as long as it has concrete findings to back it. It helps in avoiding mistakes such as poor pricing methods and poor marketing, so that your business has a fighting chance of thriving.

Final thoughts

Making your business succeed in the face of increasing competition is not an easy thing, and that is why market research exists - to enable you find weaknesses you should improve on. With these tips, investing into proper research is justified, and it will give your company great benefits.

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Why is marketing research important for your business?

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Regardless of the differences that are unique to each business, one thing remains important - knowing what your customer base wants, and then work on fulfilling their needs in order to survive from the competition. With the era of monopolies now gone, it makes it very essential to on market research.

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Here's some information on Pepsi, it's like a profile about them. It is full of interesting facts about Pepsi!

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Please complete this worksheet whilst viewing 'Inside Aldi'

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What do you know about supermarkets in the UK? This activity let's you see how Aldi is run and how it has been able to become such a dominant player in the UK supermarket industry.

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This activity looks at sources of finance. Please watch the video and complete the research.

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In A-Level Business you will need to have good math skills, as you will be completing calculations and ratios.

Here are some basic questions on percentages to get you going!

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This is a case study, made up of news articles about Lidl and their Lidl Surprises. It is about how they have changed their brand perception, this is how we see them.

Read the case study, then answer the short questions on the last page.

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To study business you need to know who owns and runs businesses and what options people have when they choose to set up a business. This activity looks at Sole Traders.

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Should the Trafford Centre and other shopping outlets be allowed to open again?!

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Ownership - Partnership

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Research is crucial when setting up a business. Today find out about the different types.

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As petrol and diesel prices hit record highs, Evan Davis looks at the economics of running a petrol station. The amount forecourts make from selling fuel is surprising.

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As petrol and diesel prices hit record highs, Evan Davis looks at the economics of running a petrol station. The amount forecourts make from selling fuel is surprising.

As petrol and diesel prices hit record highs, Evan Davis looks at the economics of running a petrol station. There's an allegation motorists are being ripped off at the pumps. However, the actual amount of profit some forecourts make from selling fuel may come as a surprise.
Guests:
Kirsty Waddingham, RKW Plumbing
David Charman, Parkfoot Garages
James Lowman, Association of Convenience Stores
David Fyfe, Argus Media

Producer: Nick Holland
Sound: Neil Churchill and Rod Farquhar
Production Coordinators: Sophie Hill and Siobhan Reed
Editor: Hugh Levinson

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BBC Radio 4 - The Bottom Line, How to run a petrol station

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As petrol and diesel prices hit record highs, Evan Davis looks at the economics of running a petrol station. The amount forecourts make from selling fuel is surprising. As petrol and diesel prices hit record highs, Evan Davis looks at the economics of running a petrol station.

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Bitcoin peaked at over $68,000 in November. This week, Bitcoin fell below $18,000. Is this the crypto-pocalypse? Nicole explains.

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8 min

Business

Bitcoin peaked at over $68,000 in November. This week, Bitcoin fell below $18,000. Is this the crypto-pocalypse? Nicole explains.

See omnystudio.com/listener for privacy information.

More Episodes

2022 iHeartPodcasts

Bitcoin peaked at over $68,000 in November. This week, Bitcoin fell below $18,000. Is this the crypto-pocalypse? Nicole explains.

See omnystudio.com/listener for privacy information.

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iHeartPodcasts

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‎Money Rehab with Nicole Lapin: Is This the End of Bitcoin? on Apple Podcasts

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Bitcoin peaked at over $68,000 in November. This week, Bitcoin fell below $18,000. Is this the crypto-pocalypse? Nicole explains. See omnystudio.com/listener for privacy information.

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Fast Food Companies Hanging on in Russia...and, someone owns a word that's on this page 64 times??

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Fast Food Companies Hanging on in Russia...and, someone owns a word that's on this page 64 times??

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This Friday, we're looking at fast-food companies who are still hanging on in Russia. Juul getting banned. And as a cherry on top, THE Ohio State University deciding to patent you guessed it, "the."

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This Friday, we're looking at fast-food companies who are still hanging on in Russia. Juul getting banned. And as a cherry on top, THE Ohio State University deciding to patent you guessed it, "the."

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‎The Indicator from Planet Money: Burgers in Russia, Juul vaporized, THE trademarked on Apple Podcasts

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This Friday, we're looking at fast-food companies who are still hanging on in Russia. Juul getting banned. And as a cherry on top, THE Ohio State University deciding to patent you guessed it, "the."

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Why is it So Expensive to Live in London?

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Why is it So Expensive to Live in London?

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Why it's so hard to buy a home in London

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Maybe the Most Interesting and Insightful Dragon's Den Pitch Ever

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Maybe the Most Interesting and Insightful Dragon's Den Pitch Ever

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I wonder where he is now?

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The Dragons Clash With a Tempered 'Control Freak' | Dragon's Den

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We hope you have fun with the activities available - these are designed to get you thinking about the interesting course you'll be starting in September. With business it is important to have knowledge of real brands and real companies.

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We have a whole family of these...Scrub Daddy, Scrub Mommy, Scrub Sponge...

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A Bidding War Breaks Out During Scrub Daddy's Pitch | Shark Tank US | Shark Tank Global

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A PDF Book About the Richest Entrepreneur in the World...Elon Musk!

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A PDF Book About the Richest Entrepreneur in the World...Elon Musk!

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Includes chapters on;
Elon's World
Musk in Africa
Musk in Canada
Elon's First Ever Start-Up Business...
PayPal Mafia Boss
Mice in Space
All Electric Cars
Pain, Suffering and Survival
Lift Off
The Revenge of the Electric Car
The Unified Field Theory of Elon Musk

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A-Level Business is assessed through three exams at the end of Year 13.

If you have any questions, please email one of the Business teachers and we'll happily help you.

contactus@sixth.trinitymat.org

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Fast Food Companies Hanging on in Russia...and, someone owns a word that's on this page 64 times??

# data[].attributes.subject
Fast Food Companies Hanging on in Russia...and, someone owns a word that's on this page 64 times??

# data[].attributes.body
This Friday, we're looking at fast-food companies who are still hanging on in Russia. Juul getting banned. And as a cherry on top, THE Ohio State University deciding to patent you guessed it, "the."

# data[].attributes.attachment_link.readable_text
This Friday, we're looking at fast-food companies who are still hanging on in Russia. Juul getting banned. And as a cherry on top, THE Ohio State University deciding to patent you guessed it, "the."

# data[].attributes.attachment_link.title
‎The Indicator from Planet Money: Burgers in Russia, Juul vaporized, THE trademarked on Apple Podcasts

# data[].attributes.attachment_link.description
This Friday, we're looking at fast-food companies who are still hanging on in Russia. Juul getting banned. And as a cherry on top, THE Ohio State University deciding to patent you guessed it, "the."

# data[].attributes.body
Bitcoin peaked at over $68,000 in November. This week, Bitcoin fell below $18,000. Is this the crypto-pocalypse? Nicole explains.

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8 min

Business

Bitcoin peaked at over $68,000 in November. This week, Bitcoin fell below $18,000. Is this the crypto-pocalypse? Nicole explains.

See omnystudio.com/listener for privacy information.

More Episodes

2022 iHeartPodcasts

Bitcoin peaked at over $68,000 in November. This week, Bitcoin fell below $18,000. Is this the crypto-pocalypse? Nicole explains.

See omnystudio.com/listener for privacy information.

8 min

More Episodes

2022 iHeartPodcasts

Top Podcasts In Business

The Ramsey Show

Ramsey Network

Planet Money

NPR

Money Rehab with Nicole Lapin

iHeartPodcasts

Jocko Podcast

Jocko DEFCOR Network

Hot Money: Who Rules Porn?

Pushkin Industries

REAL AF with Andy Frisella

Andy Frisella #100to0

More by iHeartRadio

Stuff You Should Know

iHeartPodcasts

Money Rehab with Nicole Lapin

iHeartPodcasts

Behind the Bastards

iHeartPodcasts

The Piketon Massacre

iHeartPodcasts

The Breakfast Club

iHeartPodcasts

Hell and Gone

iHeartPodcasts

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‎Money Rehab with Nicole Lapin: Is This the End of Bitcoin? on Apple Podcasts

# data[].attributes.attachment_link.description
Bitcoin peaked at over $68,000 in November. This week, Bitcoin fell below $18,000. Is this the crypto-pocalypse? Nicole explains. See omnystudio.com/listener for privacy information.

# data[].attributes.body
As petrol and diesel prices hit record highs, Evan Davis looks at the economics of running a petrol station. The amount forecourts make from selling fuel is surprising.

# data[].attributes.attachment_link.readable_text
As petrol and diesel prices hit record highs, Evan Davis looks at the economics of running a petrol station. The amount forecourts make from selling fuel is surprising.

As petrol and diesel prices hit record highs, Evan Davis looks at the economics of running a petrol station. There's an allegation motorists are being ripped off at the pumps. However, the actual amount of profit some forecourts make from selling fuel may come as a surprise.
Guests:
Kirsty Waddingham, RKW Plumbing
David Charman, Parkfoot Garages
James Lowman, Association of Convenience Stores
David Fyfe, Argus Media

Producer: Nick Holland
Sound: Neil Churchill and Rod Farquhar
Production Coordinators: Sophie Hill and Siobhan Reed
Editor: Hugh Levinson

# data[].attributes.attachment_link.title
BBC Radio 4 - The Bottom Line, How to run a petrol station

# data[].attributes.attachment_link.description
As petrol and diesel prices hit record highs, Evan Davis looks at the economics of running a petrol station. The amount forecourts make from selling fuel is surprising. As petrol and diesel prices hit record highs, Evan Davis looks at the economics of running a petrol station.

# data[].attributes.body
We have a whole family of these...Scrub Daddy, Scrub Mommy, Scrub Sponge...

# data[].attributes.attachment_link.title
A Bidding War Breaks Out During Scrub Daddy's Pitch | Shark Tank US | Shark Tank Global

# data[].attributes.headline
Maybe the Most Interesting and Insightful Dragon's Den Pitch Ever

# data[].attributes.subject
Maybe the Most Interesting and Insightful Dragon's Den Pitch Ever

# data[].attributes.body
I wonder where he is now?

# data[].attributes.attachment_link.title
The Dragons Clash With a Tempered 'Control Freak' | Dragon's Den

# data[].attributes.headline
Why is it So Expensive to Live in London?

# data[].attributes.subject
Why is it So Expensive to Live in London?

# data[].attributes.attachment_link.title
Why it's so hard to buy a home in London

# data[].attributes.headline
Reading List, Websites and TV Programmes 

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Reading List, Websites and TV Programmes 

# data[].attributes.body
Here is a list of textbooks which can be used for the course, we've also included additional texts, many from entrepreneurs like Alan Sugar and Richard Branson.

We have included a list of useful websites and TV programmes to watch, this will help build you business knowledge.

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Do you have what it takes to successfully start a business, and grow it into a large and profitable company? Many of us have dreamed of setting up our own business, of becoming our own boss, and earning our own way in the world.
Yet for every successful entrepreneur there are far more failures. Take our two-minute biz quiz to discover our estimate of your chances.

Disclaimer: This quiz doesn't predict how well any individual would be able to launch or run a business in the real world. It is based on business theory and is not a substitute for professional guidance.

How was this quiz made? The subject of entrepreneurship has a long history, but in terms of our knowledge of the characteristics of successful entrepreneurs it is still an emerging area of research. To develop this quiz we have thoroughly studied the existing literature, and worked with Brian Morgan, professor of entrepreneurship at Cardiff Metropolitan University, to focus on the psychological characteristics and managerial competences of actual entrepreneurs.

More information on setting up your own business is available from GOV.UK

By Gerry Fletcher, Robert McKenzie, Ransome Mpini, Will Smale, Nzar Tofiq and John Walton.

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Quick quiz: Would you make a good entrepreneur?

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Do you have what it takes to successfully start a business, and grow it into a large and profitable company? Many of us have dreamed of setting up our own business, of becoming our own boss, and earning our own way in the world. Yet for every successful entrepreneur there are far more failures.

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Here's some information on Pepsi, it's like a profile about them. It is full of interesting facts about Pepsi!

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Activity 2: Why didn't they sell the apartment?

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Activity 2: Why didn't they sell the apartment?

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On BBC's The Apprentice, these entrepreneurs needed to sell luxury apartments, but didn't manage to sell any! Watch the short video to see if you can figure out why.

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Candidate Delivers Most AWKWARD Sales Pitch EVER On The Apprentice UK | The Apprentice

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Reading List, Websites and TV Programmes 

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Reading List, Websites and TV Programmes 

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Here is a list of textbooks which can be used for the course, we've also included additional texts, many from entrepreneurs like Alan Sugar and Richard Branson.

We have included a list of useful websites and TV programmes to watch, this will help build you business knowledge.

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Ofsted, 2021

Leaders and governors foster a culture of exceptionally high expectations for students' academic success

Ofsted, 2021

Students enjoy their lessons, which are taught by skilled, enthusiastic and knowledgeable teachers

You're treated as an individual... Everything is geared towards getting you ready for life and the staff really help prepare you for your exams

Ofsted, 2021

Leaders and staff create an exceptionally safe and welcoming culture

Ofsted, 2021

Students participate in an extensive range of activities and projects that develop their confidence and broaden their interests

Ofsted, 2021

There exists an ambitious curriculum that equips students exceptionally well with the knowledge and skills that they need to progress

Ofsted, 2021

Students thrive in the academy's calm and harmonious environment

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Trinity Sixth Form Academy - Outstanding Sixth Form in Halifax

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Ofsted, 2021 Leaders and governors foster a culture of exceptionally high expectations for students' academic success Ofsted, 2021 Students enjoy their lessons, which are taught by skilled, enthusiastic and knowledgeable teachers You're treated as an individual...

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Here's a short set of questions based on the Pepsi case study. You will need to do a little bit of research too

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Can you believe a business the size of Aldi is still family owned! This program covers so many key business concepts.

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Inside Aldi: Britain's Biggest Budget Supermarket - Channel 5

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Exploring how the German supermarket has swept the UK.

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This video gives you an overview of the finance available for businesses

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Sources of Business Finance Explained | Bank Loans, Trade Credit, Share Capital, Overdrafts & More

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This entrepreneur became famous for the wrong reasons, apparently turned down £90 million for his business, and has now had to sell his house and car.

Where did he go wrong when trying to get the Dragons to invest?

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The Dragons Clash With a Tempered 'Control Freak' | Dragon's Den

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Please complete this worksheet whilst viewing 'Inside Aldi'

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What do you know about supermarkets in the UK? This activity let's you see how Aldi is run and how it has been able to become such a dominant player in the UK supermarket industry.

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Dill Restaurant - The Secret...

Here's a quick video to show the 'trick' Lidl played when opening Dill restaurant.

It is explained in the Lidl Surprises case study.

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This activity looks at sources of finance. Please watch the video and complete the research.

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In A-Level Business you will need to have good math skills, as you will be completing calculations and ratios.

Here are some basic questions on percentages to get you going!

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This is a case study, made up of news articles about Lidl and their Lidl Surprises. It is about how they have changed their brand perception, this is how we see them.

Read the case study, then answer the short questions on the last page.

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Here's the new rules for a day out, but why are they different for going shopping? How are businesses going to benefit from being open again? Lastly, are there any businesses who have seen a rise in sales because of lockdown?

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Theme parks, museums and leisure centres are working out how they could re-open safely, as lockdown restrictions ease in the UK.

Even riding on a roller coaster is going to require a facemask and social distancing when attractions open up again. Blackpool's Pleasure Beach has decided that, on a ride on which people scream, visitors will be more comfortable if they are made to mask up.

It is also going to be a less sociable experience - the seats on its Icon ride are only a metre apart so there will be empty rows to allow social distancing.

After the opening of shops, Britain's leisure and cultural attractions are preparing for a government announcement that they too will be allowed to re-open.

However, it will be months before many venues will be in a position to allow the public in again. A report from the Creative Industries Federation says 400,000 jobs are at risk and the cultural and creative economy is losing more than £1bn a week in revenue.

It's this dire situation that is driving planning to ensure institutions will be able to re-open quickly once the government gives the green light.

Museums will be some of the first spaces to re-open their doors but it will be a different experience.

The Design Museum in London is removing its ticket desks and is moving to an online ticketing system to avoid the need for physical tickets and queues. There will also be a strict 90-minute time limit to reduce crowding and everyone will be directed along a one-way route.

Toilets will be one in, one out.

It will be a similar experience at hundreds of other venues. James Adebayo, a property consultant, has been advising on how to make socially distanced spaces. There are, he says, a series of measures that will become commonplace.

Venues will increasingly have designated viewing points with limits on how long you can linger. And there will in many places be strict one-way systems to stop dawdling and bumping in to fellow visitors.

Every one of them will do things slightly differently but here is a list of things you could well experience on a day out.

1. Ticket only - Even free museums are looking at introducing online ticketing to ensure that crowding is eliminated. Most places will no longer allow you to just wander in.

2. Limited numbers - The number of people is going to be strictly limited to allow social distancing.

3. Viewing points - There will be controls over how and where you can stop and linger.

4. One-way - We have got used to queuing on marked out points, many museums and galleries will direct where and how you walk around.

5. Time controls - Tickets will be for set arrival times. Also, some places will have to find a way to move people through a venue, so prepare for limits to how long you will be allowed to linger.

6. Plastic - Staff will increasingly be protected behind screens.

7. Toilets - One in, one out will become common. One reason to make visits swifter will be to reassure people who don't want to touch handles, taps or flushes.

8. Food - Cafes and kiosks will be limited. Bringing your own lunch or booking your food via a phone app will become more common.

9. Late night opening - With venues having to limit numbers the only way of meeting demand and breaking even will mean that many have to extend opening hours.

Of course, this will only affect venues and attractions which can control the public. Some, such as live music venues, which rely on crowds standing together face a much longer wait and a huge hole in their revenue.

Follow us on Facebook or on Twitter @BBCNewsEnts. If you have a story suggestion email entertainment.news@bbc.co.uk

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Coronavirus: The new rules for the 'day out'

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Theme parks, museums and leisure centres are working out how they could re-open safely, as lockdown restrictions ease in the UK. Even riding on a roller coaster is going to require a facemask and social distancing when attractions open up again.

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To study business you need to know who owns and runs businesses and what options people have when they choose to set up a business. This activity looks at Sole Traders.

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Should the Trafford Centre and other shopping outlets be allowed to open again?!

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How has the Coronavirus impacted the UK economy? Have a look at the graphs and charts and think about how that affects UK businesses.

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The coronavirus pandemic has reached almost every country in the world.

Its spread has left national economies and businesses counting the costs, as governments struggle with new lockdown measures to tackle the spread of the virus.

Despite the development of new vaccines, many are still wondering what recovery could look like.

Here is a selection of charts and maps to help you understand the economic impact of the virus so far.

Big shifts in stock markets, where shares in companies are bought and sold, can affect the value of pensions or individual savings accounts (Isas).

The FTSE, Dow Jones Industrial Average and the Nikkei all saw huge falls as the number of Covid-19 cases grew in the first months of the crisis.

The major Asian and US stock markets have recovered following the announcement of the first vaccine in November, but the FTSE is still in negative territory.

The FTSE dropped 14.3% in 2020, its worst performance since 2008.

In response, central banks in many countries, including the UK, have slashed interest rates. That should, in theory, make borrowing cheaper and encourage spending to boost the economy.

Some markets recovered ground in January this year, but this is a normal tendency known as the "January effect".

Analysts are worried that the possibility of further lockdowns and delays in vaccination programmes might trigger more market volatility this year.

Many people have lost their jobs or seen their incomes cut.

Unemployment rates have increased across major economies.

In the United States, the proportion of people out of work hit a yearly total of 8.9%, according to the International Monetary Fund (IMF), signalling an end to a decade of jobs expansion.

Millions of workers have also been put on government-supported job retention schemes as parts of the economy, such as tourism and hospitality, have come to a near standstill.

The numbers of new job opportunities is still very low in many countries.

Job vacancies in Australia have returned to the same level of 2019, but they are lagging in France, Spain, the UK and several other countries.

Some experts have warned it could be years before levels of employment return to those seen before the pandemic.

If the economy is growing, that generally means more wealth and more new jobs.

It's measured by looking at the percentage change in gross domestic product, or the value of goods and services produced, typically over three months or a year.

The IMF estimates that the global economy shrunk by 4.4% in 2020. The organisation described the decline as the worst since the Great Depression of the 1930s.

The only major economy to grow in 2020 was China. It registered a growth of 2.3%.

The IMF is, however, predicting global growth of 5.2% in 2021.

That will be driven primarily by countries such as India and China, forecast to grow by 8.8% and 8.2% respectively.

Recovery in big, services-reliant, economies that have been hit hard by the outbreak, such as the UK or Italy, is expected to be slow.

The travel industry has been badly damaged, with airlines cutting flights and customers cancelling business trips and holidays.

New variants of the virus - discovered only in recent months - have forced many countries to introduce tighter travel restrictions.

Data from the flight tracking service Flight Radar 24 shows that the number of flights globally took a huge hit in 2020 and it is still a long way from recovery.

The hospitality sector has been hit hard, with millions of jobs and many companies bankrupt.

Data from Transparent - an industry-leading intelligence company that covers over 35 million hotel and rental listings worldwide - has registered a fall in reservations in all the top travel destinations.

Billions of dollars have been lost in 2020 and although the forecast for 2021 is better, many analysts believe that international travel and tourism won't return to the normal pre-pandemic levels until around 2025.

Shopping... at home

Retail footfall has seen unprecedented falls as shoppers stayed at home.

New variants and surges in cases have made problems worse.

Pedestrian numbers have fallen further from the first lockdown, according to research firm ShopperTrak,

Separate research suggests that consumers are still feeling anxious about their return to stores. Accountancy giant EY says 67% customers are now not willing to travel more than 5 kilometres for shopping.

This change in shopping behaviour has significantly boosted online retail, with a global revenue of $3.9 trillion in 2020.

Governments around the world have pledged billions of dollars for a Covid-19 vaccine and treatment options.

Shares in some pharmaceutical companies involved in vaccine development have shot up.

Moderna, Novavax and AstraZeneca have seen significant rises. But Pfizer has seen its share price fall. The partnership with BioNTech, the high cost of production and management of the vaccine, and the growing number of same-size competitors have reduced the investors' trust in the company to have bigger revenue in 2021.

A number of pharmaceutical firms have started already distributing doses and many countries have started their vaccination programmes. Many more - such as Johnson & Johnson and Sanofi/GSK - will join the vaccine distribution during 2021.

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Coronavirus: How the pandemic has changed the world economy

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The coronavirus pandemic has reached almost every country in the world. Its spread has left national economies and businesses counting the costs, as governments struggle with new lockdown measures to tackle the spread of the virus. Despite the development of new vaccines, many are still wondering what recovery could look like.

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Ownership - Partnership

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Have a read of this article from Business Matters about the importance of research

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The advancement of technology has given us so many ways of finding out what we need to do to sustain businesses of different kinds.

Regardless of the differences that are unique to each business, one thing remains important - knowing what your customer base wants, and then work on fulfilling their needs in order to survive from the competition. With the era of monopolies now gone, it makes it very essential to on market research. That is why the major companies in the world employ the services of marketing teams and spend millions of dollars annually in recruiting research firms. Here are some reasons why you need to spend that money on research.

To have a better idea of what you are going to do

This may sound generic as ever, but the thing is - it shows you the importance of conducting research in the first place. Leading SME business specialist Richard Alvin, and chairman of specialist SME research company commented Trends Research said: 'The worst mistake you can make as an entrepreneur is shooting in the dark - you simply waste your time and resources without anything to show for it. You may make mistakes along the way even if you have sufficient information, but it is better to be prepared.' Whatever decision you make for the business, it is important to do your homework. From sourcing for suppliers, getting potential clients, and even developing the range of your products and services. It can also help in clearing up any queries that you have while still providing you with sufficient first-hand strategy that helps in progressing the business, also known as SWOT (strengths, weaknesses, opportunities and threats).

It helps you to stay focused

Let us be honest here - marketing research and marketing in general is not an easy venture to get into, especially with all the multitasking that happens today. Even as a business owner, you might find yourself trying to focus on multiple projects, playing various roles within your organization, while still running the business and trying to help it succeed. However, when you have done sufficient market research, it should inform you what your consumers want. This helps you make a list of priorities you need to accomplish, which in turn helps you in managing your time as effectively as possible. It also gives you a guide on both the long and short term strategies you need to put in place, which helps you feel more organized, less frazzled and overwhelmed in the long-term.

Gives you better insight on your customers

Regardless of whether your business has been in the game for a long time or is starting out, target customers should always be a priority, as they are either potential or loyal customers. Good market research strategies will clear doubts you may have on the identification of these customers, including their gender, ages, locations, and so on. The more analysis you do on their spending habits and products they frequently purchase, for instance, the better you can understand what makes them tick. This allows you to focus on manufacturing certain products or giving certain services in order to retain them as loyal customers.

Helps in understanding customer behavior

Aside from getting to know potentially loyal customers, you can use market research to find out some requirements of the customers. The improvement of technology has given us some useful advanced software tools such as Google Analytics, which assist you to understand the behavioral patterns of your customers. Oncetheir spending behavior is understood, you can then refine and customize various products for them. These software tools can use the data in two forms. One is tracking the spending habits of the customer when they are online, which is a real-time analysis (it particularly works if you have an online shop), and the other is to check their past spending behavior to see if there are any patterns involved.

Helps in analyzing competitors

If you have ever read the book 'The Art of War' by Sun Tzu, it states that for you defeat your enemy in battle, it is important to know yourself and know them, and they will never defeat you. This statement is true; not just in war, but also in other aspects of life - especially when it comes to running a business. Monopolies do not exist anymore in this day and age, so every business has fierce competition all around it. This should motivate you to do adequate research on the market as well as your competitors, and you may learn some strategies from them that can either push you ahead or reduce the growth of your competitors. Even more important, it will help you to keep your growth consistent through the improvement of your services and products.

Gives you adequate information for selling and forecasting activities

The most important focus of sales forecasts is helping a business keep adequate inventory, an action which regulates the balance of demand and supply. The only way to find this out is through doing research. After doing a sales forecast you can then begin to plan for alternative goods you can sell, or find new methods of selling the goods. In addition, you may have consumer bases in other countries; market research allows you to find them and tailor make strategies for those areas.

Reduces losses and risk on a significant level

The best approach to use would be a contingency approach. At the back of your mind, you remember that the business may not do well due to factors that may be beyond your control, or others may be mistakes you will learn along the way. Market research proves to be effective at reducing risks that you incur or the losses your business may suffer, as long as it has concrete findings to back it. It helps in avoiding mistakes such as poor pricing methods and poor marketing, so that your business has a fighting chance of thriving.

Final thoughts

Making your business succeed in the face of increasing competition is not an easy thing, and that is why market research exists - to enable you find weaknesses you should improve on. With these tips, investing into proper research is justified, and it will give your company great benefits.

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Why is marketing research important for your business?

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Regardless of the differences that are unique to each business, one thing remains important - knowing what your customer base wants, and then work on fulfilling their needs in order to survive from the competition. With the era of monopolies now gone, it makes it very essential to on market research.

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Research is crucial when setting up a business. Today find out about the different types.